Corporate governance

The departure of Brad Hu at the end of the year opens the door for Citi’s soon-to-be CEO Jane Fraser to hire someone new to oversee the bank’s massive risk systems overhaul.

Members of Niagara Mohawk Power Corp. Troy Employees Federal Credit Union recently voted to merge with Albany-based CAP COM.

Earlier this year, the Southern California credit union was criticized for its directors not representing the demographics of the communities it serves.

The bank is scaling back how it distributes research to clients, part of a push to simplify operations and lower headcount, according to people familiar with the matter.

The Mississippi company said Duane Dewey, the president of its bank, will succeed Gerard Host as CEO in January.

Rob Holmes, who will join the Dallas company in January, has been the global head of corporate client banking and specialized industries at JPMorgan Chase.

The global bank, which has already closed more than 30% of its U.S. branches this year, indicated that the pandemic is prompting it to adjust its plans on the fly.

The acquisition will consolidate United's position in the St. Joseph market, where both institutions are based.

The sales are part of ConnectOne's strategy to replace traditional retail branches with banking hubs backed by technology.

The Detroit company said David Provost, former CEO of Chemical Financial, will become its CEO.